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College West Partners Sells Raising Cane’s Chicken Fingers Restaurant In Santa Maria For $5.1M
SOLD
$5,100,000
California
See Similar DealsRetail3,172 SF
Sold 12/21/2023
SOLD
College West Partners Sells Raising Cane’s Chicken Fingers Restaurant In Santa Maria For $5.1M
485 East Betteravia Road
See Similar DealsRetail3,172 SF
Sold 12/21/2023
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$1,607
Total Square Footage:3,172 SF
Transaction Type:Sale
A Raising Cane’s Chicken Fingers restaurant located at 485 East Betteravia Road in Santa Maria has been sold for $5.1 million. The transaction was completed by Tustin-based College West Partners, who sold the 3,172-square-foot building as part of the Enos Ranch development. The property was built in 2022 and is situated in Santa Maria's retail market.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $5,100,000
- Address: 485 East Betteravia Road
- Market: Santa Maria
Alexander Moore, Kevin Fryman, and Sean Cox of Hanley Investment Group represented College West Partners in the sale of the Raising Cane’s Chicken Fingers restaurant. The transaction was completed with a Los Angeles investor as the buyer.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$271,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$18,119.23
Cash-on-Cash Return-1.27%
Monthly Debt Service$24,176.60
Annual Debt Service$290,119.22
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